Eurofin says that Seafin will provide shipowners, charterers, investors, banks and finance houses with the full range of services delivered by its shareholders, including unbiased and innovative financial advice, deal structuring, transaction and financial support, and financial market intelligence. The new company will be managed by Masashi Hiruta whose background combines financial as well as shipping experience.

Anthony Zolotas, managing director of Eurofin says, "Asia offers huge possibilities for skilled financiers. Our partners, Seven Oceans, have good connections with owners, ship builders, charterers and financial institutions across Asia, and we have the financial skills and experience of building successful transactions with banks, institutions, and operators. Together we have a perfect skills match which means the joint venture, Seafin, can be stronger than either of us alone. We used this business model when we expanded into Turkey, creating Medfin, and that has been a real success, so we expect the same here."

Mr Zolotas continues, "Although we expect to do substantial business with pure Asian deals, this Singapore-based company will also provide our existing clients, both owners and banks in Europe, with a bridge into Asian shipping, and will provide Asian banks and owners with a bridge into Europe. We are already working on our first deal, a sale and leaseback transaction involving Japanese investors and Far East ship operators, and we are confident of more in the near future. We chose Singapore as our base because of its welcoming business climate, sensible tax regime, good communications and accessibility. We are already discussing with some clients on potential listings in Singapore, and we think having a successful company there already will help that."